The Rule of Law and the Paradox of the AIM Transaction 2
Part 2 – Conflict of Interest The MND Town Council Review Report (TCRR) on the AIM Transaction was released on 3 May 2013. There is consensus that the TCRR has failed in several key areas. However, I shall only address the conflict of interest issue. AIM Pte Ltd was set up in 1991 by the PAP (Section 9, TCRR), and wholly-owned...
Transparency and the Ownership of Changi Airport
I have not expected to defend a recent comment that the Changi Airport Group (CAG) is a wholly-owned subsidiary of Temasek Holdings. I must have stated the same fact at least half a dozen times previously on different occasions that I no longer include a reference for it. I thank fellow netizens Bravo and faber who highlighted...
The POSB Transaction Revisited
I shall begin with a little background. I recently wrote a comment about the creative accounting at Temasek Holdings drawing on two examples of under-valued acquisitions by Temasek-linked companies (TLCs). The comment itself was a topical response to an article by Christopher Balding. Christopher later cited my comment in his...
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